Trading / Investing

Hey, Trader... Leave Those Trades Alone!

2 Min Read

Can you think of something that starts off as a good idea but quickly turns bad?[caption id="attachment_5078" align="aligncenter" width="225"]

jon bovi

Good idea: get a Bon Jovi tattoo :) ... Turns bad: didn't do your research or spellcheck![/caption]As a kid, there were many:"That rope swing is great!" - until it broke with me on it."Floating across the river on that wooden board seems fun!" - until it sank."Digging a new Channel Tunnel is ingenious!" - until I got the slipper for ruining the garden.But as an adult, you're expected to put a bit more thought into your decisions.Like with trading...We all know you need to do analysis before you jump into a trade; if not, we're just gambling.But interestingly, that isn't the part that we seem to struggle with the most. The problem seems to be after the trade is opened.To quote today's video:

"You're personally sabotaging your trades, by becoming a distracted, unfocused, emotional wreck!"

Time to stop allowing good decisions to turn bad!